Elon Musk’s company, SpaceX, is reportedly preparing for a significant initial public offering (IPO) that could establish it as the largest flotation in history, with a potential valuation reaching as high as $1.5 trillion. This move comes on the heels of Musk’s recent public clash with Ryanair’s Michael O’Leary, adding a layer of intrigue to the proceedings. While no final decision has been made, the IPO could occur as soon as this year, reflecting SpaceX’s status as the leading developer of commercial rockets for space exploration, bolstered by its Starlink satellite service.
The anticipation surrounding SpaceX’s IPO is part of a larger trend of potential mega listings in the United States. Reports indicate that two prominent players in the generative artificial intelligence sector, OpenAI and Anthropic, are also considering their own public offerings. With OpenAI’s annualized revenues surpassing $20 billion in 2025, the appetite for investment in these firms is robust. Nevertheless, both companies face considerable expenses, raising the question of whether remaining private might offer them more strategic advantages.
Some analysts caution against overly optimistic expectations. Katie Prescott of The Times suggests that while growth rates are impressive, the immense costs associated with their operations could deter immediate public offerings. Remaining private could also provide these companies with a “comfortable cloak of secrecy,” allowing them to refine their complex corporate structures without the intense scrutiny that public companies face.
The dynamic between Musk and OpenAI adds an additional layer of complexity to this landscape. Musk, who was an early investor in OpenAI, is currently embroiled in a lawsuit against the company, seeking $134 billion in damages. He accuses OpenAI’s management of deviating from original governance promises. This legal battle has revealed internal documents that have sparked public interest and debate about the future of the organization. In response, OpenAI’s CEO, Sam Altman, claims Musk’s actions are motivated by a desire to undermine OpenAI to benefit his own AI venture, xAI.
The implications of this lawsuit could be significant. As noted by Danny Fortson in The Sunday Times, the outcome could have profound effects on the competition for dominance in the multi-trillion-dollar artificial intelligence industry. The stakes are high, not just for Musk and OpenAI, but also for the broader tech ecosystem, which is watching closely as these companies navigate their paths toward public markets.
As 2026 approaches, the potential for groundbreaking IPOs from SpaceX, OpenAI, and Anthropic could reshape the technology landscape. Investors and market analysts alike are closely monitoring developments, eager to see how these companies will position themselves in an ever-evolving global market.
